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| Missouri Small Business
Development Centers ... your success is our business |
Monday, January 05, 2009
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Entrepreneur Archive:
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| Charles Hill (seated, right), head of GHN, in the firm's conference room with co-owners (clockwise from Hill) Ken Stufflebeam, Joe Vejraska and Paul Melgren. |
"What we actually discovered was that there was much more to learn," says Stoops. "We were very impressed with the quality of instruction and information, and realized other classes in the (Financial Management) series would be beneficial. We learned ways to analyze and utilize financial information for better business management."
Subsequently GHN received one-on-one consultation from Rayanna Anderson, business consultant and assistant director of the SBDC in Springfield. Anderson worked with Stoops and Hill to analyze the firm's financial data and compare it to national norms in GHN's industry.
"This evaluation helped determine our strengths and identify areas needing improvement," Stoops explains. "Our challenge was to learn more about good business practices. We knew how to be good architects and engineers, but (we) had much to learn about business to become a more profitable and responsive company."
So Hill, Stoops and other members of the firm embarked on a series of business classes offered by the SBDC to improve their understanding and execution of essential business practices.
| Jean Stoops, GHN business manager, along with Charles Hill and other members of the firm discovered valuable business information from the experts at the Missouri State University SBDC. |
"Overall, we have a much greater perspective of what is required to operate a profitable business, while practicing architecture and engineering," Hill confesses. "Rayanna and the SBDC staff brought new vision to our company (enabling) its successful continuation as a viable business enterprise."
The extended series of classes, which involved more than half the members of the firm, created some added yet unexpected benefits, too. As each member of the firm concentrated on mastering previously unfamiliar business topics, the joint learning experience promoted camaraderie among the colleagues.
"Seeing your boss and co-workers out of their element gives you a new perspective, helping to foster more of team environment," declares Stoops.
From a results standpoint, all this effort and new direction for the firm has had a positive impact leading to a 27 percent workforce increase (from 11 to 14 employees), the securing of a $425,000 business expansion loan, and a jump in sales of $474,000, according to the SBDC's Anderson, GHN's unofficial business mentor.
And yet with all these improvements in business execution, the folks at GHN are not about to declare complete self-satisfaction with their new-found knowledge.
"You do not 'graduate' from learning (at) the SBDC," Stoops admits. "Expanded course offerings from this valuable resource allow for continual improvement in our business practices. We look forward to more opportunities to work with the SBDC in the future, helping evaluate and develop our business."
GHN | Architects Engineers
300 S. Jefferson Ste. 301
Springfield, MO 65806
Phone: 417-869-0719
Fax: 417-869-3044
E-mail: jstoops@ghnaes.com
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